Reinsurance News
InsurTech news
Insurance and reinsurance technology related news, focused on the wave of interest in InsurTech start-ups, investing in insurance technology initiatives, as well as reinsurance tech start-ups or ReinsurTech.
ISC partners with Markel on gig economy general liability policy
14th May 2021
Multi-line program administrator Integrated Specialty Coverages has launched a new General Liability policy program geared towards gig economy contractors. The program has been designed to provide contractors “by the job” flexibility, offering a number of customisable options. Made available via ISC’s AI-enabled platform and underwritten by Markel Specialty, the program will be ... Read the full article
Cytora adds ex-Aspen UK CEO Karen Green to board
14th May 2021
UK insurtech Cytora has announced the appointment of Karen Green to its advisory board, where she’ll help drive growth across the company. Green was previously Chief Executive Officer of Aspen UK and served on the Aspen Group Executive Committee for 12 years. She is currently a Non-Executive Director at Phoenix Group Holdings, Admiral Insurance ... Read the full article
Activist short seller claims Lemonade has leaked customer data
13th May 2021
Investment firm Muddy Waters Research LLC has claimed that insurtech firm Lemonade has an “unforgivably negligent security flaw” in its website that potentially exposes customer data. In a letter to Lemonade CEO Dan Schreiber, Muddy Waters asserts that major search engines have inadvertently accessed and indexed private data due to a ... Read the full article
Insurers need to start using newer technologies: insurtech report
13th May 2021
According to a new insurtech report from Capgemini and Efma, policyholders have become more cautious when taking out insurance, resulting in the need for insurers to empower their distribution network with newer technologies. As natural disasters and emerging risks have become more severe, along with lockdowns and social distancing, digital channels ... Read the full article
Verisk launches AI-driven, life insurance solution
13th May 2021
Global reinsurer SCOR has provided extensive feedback on a new Verisk-developed life insurance solution designed to distill insights from medical notes in electronic health records. EHR Triage Engine Plus leverages natural language processing and artificial intelligence and was developed in a collaborative effort between the two firms. The solution can be integrated ... Read the full article
SCOR partnership targets new digital health data underwriting solutions
12th May 2021
Global reinsurer SCOR is partnering with digital life and health underwriting specialist HealthyHealth to help provide customers with instant underwriting decisions via new data-driven solutions. HealthyHealth’s product analyses health data from smartphones and wearables, shared with insurers by life insurance applicants, to predict applicants’ risk of developing critical medical conditions and ... Read the full article
SCOR partners with insurtech Snapsheet on digital claims management solutions
6th May 2021
Global reinsurer SCOR has announced a new strategic partnership that will provide its clients with access to an end-to-end claims management platform, digital payments platform, motor virtual appraisal offering, and set of third-party integrations. The solutions are provided by digital claims management software specialist Snapsheet. Snapsheet has fostered a reputation for helping ... Read the full article
Tremor approved to redistribute AM Best ratings within Panorama
4th May 2021
Programmatic re/insurance risk transfer marketplace, Tremor Technologies, has been granted the rights to redistribute Best’s Credit Ratings as part of Panorama, its recently launched trading platform. The credit ratings by AM Best will be continuously updated within Panorama to provide critical ratings information to buyers of reinsurance protection using the ... Read the full article
Neptune Flood launches capacity program
30th April 2021
Neptune Flood, an insurtech firm focused on the flood market, has launched its latest capacity program sponsored by Transverse Insurance Group and backed by a panel of global reinsurers, which was placed through Acrisure Re. Neptune policies placed with the program will carry the Transverse AM Best A- (Excellent) rating. The $30 ... Read the full article
Global insurtech investment hits record $2.55bn in Q1: WTW
28th April 2021
New data from re/insurance broker Willis Towers Watson (WTW) shows that global investment in the insurtech sector reached a new quarterly high of $2.55 billion during the first quarter of 2021. This included eight so-called ‘mega-rounds’, which was more than in any other three-month period, analysts found, and which accounted for ... Read the full article
UPC Insurance partners with Mindtree & Duck Creek
27th April 2021
UPC Insurance has partnered with technology services company Mindtree and core system solutions provider Duck Creek Technologies on the implementation of SaaS-based systems to improve customer experience and claims efficiency. This includes policy, billing, claims, data insights, and insurance technology solutions as well as the consolidation of multiple applications on a ... Read the full article
Kettle names William Haddrell CUO
26th April 2021
Reinsurance startup Kettle has announced the appointment of William Haddrell as its new Chief Underwriting Officer, who will join following the completion of his current work obligations. Haddrell is set to join from Sompo and will also being heading up the underwriting at Kettle’s recently-approved managing general agent. Co-Founder and CEO Andrew ... Read the full article
Shift towards asset-light economy is transformative, says Flandro
22nd April 2021
The shift towards an asset-light global economy has been described as transformative by HX Analytics managing director David Flandro, in a Howden report that highlights the rise of intangibles and the subsequent challenges this brings to re/insurers. “Intangible - and largely uninsured - exposures are becoming more substantive. The rise of ... Read the full article
AXA XL’s North America Construction business adopts RCT platform
22nd April 2021
AXA XL's North America Construction insurance business has adopted the software platform from Risk Control Technologies (RCT), Inc. RCT’s risk engineering enterprise software platform is specific to the re/insurance industry and provides clients with access to risk engineering and loss prevention information. AXA XL's Construction Risk Engineering team will use the platform ... Read the full article
Insurtech Archipelago raises $34m in new funding
22nd April 2021
AI-driven technology and data analytics company Archipelago has raised $34 million in a Series B funding round led by Scale Venture Partners, with strong follow-ons from earlier investors: Canaan Partners, Ignition Partners, and Zigg Capital. Principals from Stone Point Capital, along with Prologis Ventures, also participated in the round, which will ... Read the full article
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